§ Mr. Shersbyasked the Chancellor of the Exchequer what assessment he made of the assumptions made by the European Commission for the 1986 preliminary draft budget for the level of world cereal prices and the exchange rate of the United States dollar to the European currency unit; and what is his policy towards the assumptions and their effect on the United Kingdom.
§ Mr. Ian StewartWe shall be scrutinising the Commission's assumptions about the ecu:dollar exchange rate and world cereal prices very closely in the discussions about their preliminary draft Budget for 1986 which are just beginning in preparation for the Budget Council in September. The Government will also continue to press in the Agriculture Council for a policy of price restraint for cereals which would help to reduce Community expenditure in this sector.